Quarterly report pursuant to Section 13 or 15(d)

Condensed Interim Statement of Cash Flows

v3.20.1
Condensed Interim Statement of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net income $ 22,748 $ 462,490
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Deferred tax liabilities (107,402) 179,658
Interest earned on investments and marketable securities held in Trust Account (638,910) (934,689)
Changes in operating assets and liabilities:    
Prepaid expenses 218,073 (22,460)
Accounts payable 245,356 82,738
Accrued expenses 4,390 18,500
Franchise tax payable 10,050 (150,000)
Net cash used in operating activities (245,695) (363,763)
Cash Flows from Investing Activities    
Interest released from Trust Account 40,050 200,250
Net cash provided by investing activities 40,050 200,250
Cash Flows from Financing Activities:    
Proceeds from note payable to related parties 430,000 400,000
Net cash provided by financing activities 430,000 400,000
Net increase in cash and cash equivalents 224,355 236,487
Cash and cash equivalents - beginning of the period 161,405 196,804
Cash and cash equivalents - end of the period 385,760 433,291
Supplemental disclosure of noncash investing and financing activities:    
Change in value of Class A common stock subject to possible redemption $ 22,750 $ 462,489